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What exactly does Sarina Isa have, how did she get an apartment in London? | Instant News


ISLAMABAD: Judge Qazi Faez Isa’s wife told the tax authorities that he transferred 698,002 million British pounds from Karachi to London to buy his London property from 2002 to 2013.

Her net assets of Rs 124 million were stated with the Federal Board of Revenue (FBR), Mrs. Sarina Isa, in her first detailed response to submit traces of money, sources of income, and records related to other assets after the president’s reference to her husband was canceled. , said the source.

“Mrs. Sarina Isa has total assets of Rs124 million. Total assets of Rs45.4 million in Pakistan and Rs78 million abroad [UK]. He submitted certificates issued by banks (UBL & Standard Chartered) regarding foreign currency accounts (pounds) which showed deposits for 2003 to 2013 amounting to 671,490 British pounds and remittances abroad during 2003-2013 amounting to 698,002 British Pounds, “a senior official involved with the FBR investigation team told Geo News on Friday.

He has submitted details of income returns, wealth reports, and foreign income and asset reports for the fiscal years 2018 and 2019 in an effort to explain when, where and how he obtained them abroad, officials further revealed his identity. He, however, did not provide further details on this specific problem (London property) which said, “FBR is well aware of the source of its income because it has been a reporter since the early 90s.” In view of the Supreme Court’s ruling in this case, where the matter was forwarded to FBR, the office of the Commissioner of Inland Revenue and the International Taxes Zone presented notices about Zarina Isa (wife), Sehar Isa (daughter) and Arsalan Isa (son) last week.

Mrs. Sarina Isa submitted the salary records she earned while working at Karachi American School. He also gave details of properties that were sold and bought in Karachi, including taxes paid to the government on these assets.

Among his immovable property valued at Rs52,340,010, he revealed his first immovable property valued at Rs12,020,660 with 50 percent of children’s shares in the 50-Coniston Court in London, according to his statement to FBR officials. The second immovable property valued at Rs19,181,050 with a 50 percent stake with his son at 40-Oakdale Road London was shown as a reward while the other movable property valued at Rs21,138,300 with a 50 percent stake with his daughter at 90-Adelaide Road London stated, read his financial statement for the year 2019.

The source further said that he mentioned the farm that was given by his father. She also told tax authorities that her husband did not have a link to his London property, said the source, adding that he also stated that he stated three London properties in the tax return submitted last year.

Mrs. Sarina Isa already has a savings of Rs21,650,000 at the National Savings Center, DHA Karachi. He received a sum of Rs10,979,180 from his father in July 2018. The amount came through banking channels, said the official who was told.

Mrs. Sarina Isa also has an investment of Rs25,454,310, according to her financial statements. His foreign income remained Rs 4,731,076 in the 2019 tax year. Sarina Faez Isa also has Rs 25,454,310 in his foreign bank accounts in the UK, officials added. Hakim Isa’s wife further revealed that she paid Rs 1,386,510 due to taxes in the past two years, her FBR records show.

In his financial statements he submitted details of his total national savings of Rs 217 million and his tax reduction certificate which was continually disclosed by knowledgeable officials. Mrs. Sarina Isa also received Rs17,470,480 from her daughter who lived abroad in the fiscal years 2018 and 2019, FBR records show.

On his farm property, he showed 24.7 hectares of land in Deh Korar, Tapa Zangipur Jacobabad. He also showed a plot of land of 148.21 hectares in Jacobabad. Agricultural land was also shown in Dera Murad Jamali, commercial and industrial land in the City of Shah Latif in Karachi and Clifton, according to financial reports. But he did not show his total agricultural income because, according to him, it was not taxable income.

Mrs Sarina appeared firsthand this week before the commissioner in Islamabad to explain the problem of London family property. AEOI Zone Islamabad International Tax Directorate Commissioner Zulfiqar Ahmed and his team questioned the judge’s wife, where he said that all answers came in written form, said the source.

After the judge’s wife submits the details, documents and notes to the FBR, the authorities say that they review the material and will most likely carry out an independent forensic audit of the income statement and decide on further action. It has not been decided to send a notification or questionnaire to him and his children, a senior FBR official told the correspondent.

The Supreme Court of Justice has begun proceedings on the alleged absence of Justice Isa in returning wealth from three London properties obtained in the name of his wife and children between 2011 and 2015. After a series of hearings, the top court finally rejected the reference. against the judge. The top court asked the judge’s wife and children to respond with an explanation of the nature and source of funds used to obtain property.

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